2020 was an atypical year, marked by the commercial difficulties generated by the pandemic, an event that puts multiple challenges for accountants and companies on the table in 2021. In addition, tax environments everywhere are undergoing significant changes and processes that must first be understood and applied by professionals in the accounting world. At the same time, the business segment continues its unstoppable process of digital transformation, something that also poses new demands and dynamics for capital registration and the handling of tax and financial receipts and documents. Ann Marie Puig, an entrepreneur and accounting expert from Costa Rica, discusses some of the challenges that will the accounting space will encounter in the new year.
Without a doubt, operation income is a key moment for accountants and companies, as it itself poses several challenges. In addition, in 2021, it has two great peculiarities: it comes after a global crisis and brings multiple novelties. As a result, the big challenges for the next operation income are to deepen the new tax regimes, learn about incoming forms and familiarize yourself with any new regulatory proposals.
Asserts Puig, “In order not to have problems with this process, it is advisable to rely on market software that provides speeding and efficiency and that reduces the chances of errors when filling out the forms so that you do not have to pay fines or waste time in rectifications.”
Modern accounting services need to take a step towards digital and automated work to ensure customer satisfaction and job efficiency. In addition, these elements provide the ability to cover a greater number of operations in a stable manner, by streamlining processes and minimizing error risks.
Tools that can help you climb that ultimate step toward modernity include e-invoicing, general ledger, and remuneration software. In fact, you can integrate these three solutions to provide a fully digitized, automated and comprehensive service that can provide overall and sustainable improvements in business processes.
One of the challenges for accountants is adding value to your services and user interaction processes to meet, retain, and improve your positioning. Explains Puig, “To do this, you can spread value and educational content on your website and organize webinars and specialized events, for example. This will offer relevant and useful experiences with nothing in return to strengthen relationships and continue to build great credibility.” Also, when it comes to interactions with your customers, direct them to digital communication channels that are characterized by agility and practicality, such as instant messaging services and video calling applications.
After all the problems of 2020, the business management of the future will be especially focused on cash flow care. It is essential that as part of your services, you try to add value and order to your clients’ finances, advising on capital management and giving advice to protect liquidity. With multiple automation technologies and tools, today’s accountant can spend more time analyzing and general consulting, expanding its positive business impact.
To give certainty to your clients and consolidate yourself as an attractive option in the accounting services market, establish an optimal fee policy that can withstand the passage of time and that is in line with the dynamics of processes and tasks. Adds Puig, “Of course, it is also important that the fees set – in addition to being attractive to users – ensure the stability, viability and attractiveness of your accounting business.”
Look for strategic technology partners; providers of your billing system, accounting software, and other digital applications you use need to be more than just service providers—they need to be a strategic ally, capable of supporting you when you need them, and helping you achieve specific goals. In addition, be sure to inform yourself: blogs and sites specialized in accounting offer content of high information value, morphing into key factors to solve doubts and keep up to date on trends and conjunctural changes in the matter. Don’t stop subscribing to the most important ones.